Key Takeaways
- • Global PE exit value rose 65% quarter-on-quarter to $481.6bn in Q3 2026, while completed exits rose only 9.3% to 1,089, according to PitchBook data analysed by Foley & Lardner.
- • Larger transactions drove the exit recovery: value grew far faster than volume, indicating megadeals rather than broad-based activity accounted for most of the improvement.
- • Asia-Pacific recorded its highest quarterly PE exit value on record, a major contributor to the global increase.
- • Global PE deal value rose 7.8% to $499.2bn, but deal count grew just 1.9% to 5,718; US deal value jumped 20% to $230.4bn.
- • Fundraising remains weak: global managers raised $368.1bn across 523 funds in the first nine months of 2026, with fund closes on pace to decline further.
Summary
Global private equity exit value jumped 65% in the third quarter of 2026 to $481.6bn, but the number of completed exits rose by less than 10%, according to new PitchBook data. Foley & Lardner's analysis of PitchBook's Q3 2026 Global Private Equity First Look shows global exit count increased 9.3% quarter-on-quarter to 1,089. The wide gap between value and volume suggests larger realisations accounted for a substantial share of the improvement rather than a broad-based pickup in exit activity.
Asia-Pacific was singled out by PitchBook as a particularly important contributor, with the region recording its highest quarterly private equity exit value on record. The United States showed a similar pattern. American exits rose 11% in number to 405, while aggregate exit value climbed 51% to $165.1bn.
Deal activity grew more modestly than exits. Foley & Lardner puts global PE deal count at 5,718 in the third quarter, up just 1.9% from the prior three months, while aggregate transaction value increased 7.8% to $499.2bn. The US was the stronger performer on dealmaking, with transaction value rising 20% to $230.4bn and deal count increasing 5.8% to 2,466.
Fundraising remains under pressure despite the improvement in exits. Global managers raised $368.1bn across 523 funds during the first nine months of 2026, according to Foley & Lardner's analysis of the PitchBook dataset. The analysis also indicates that, at the current pace, the number of funds reaching a close would decline further over the year.
Asia-Pacific was singled out by PitchBook as a particularly important contributor, with the region recording its highest quarterly private equity exit value on record. The United States showed a similar pattern. American exits rose 11% in number to 405, while aggregate exit value climbed 51% to $165.1bn.
Deal activity grew more modestly than exits. Foley & Lardner puts global PE deal count at 5,718 in the third quarter, up just 1.9% from the prior three months, while aggregate transaction value increased 7.8% to $499.2bn. The US was the stronger performer on dealmaking, with transaction value rising 20% to $230.4bn and deal count increasing 5.8% to 2,466.
Fundraising remains under pressure despite the improvement in exits. Global managers raised $368.1bn across 523 funds during the first nine months of 2026, according to Foley & Lardner's analysis of the PitchBook dataset. The analysis also indicates that, at the current pace, the number of funds reaching a close would decline further over the year.
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